Singapore Branch of Shanghai Pudong Development Bank contributes to $90 million USD tranche of $740 million USD-equivalent dual-currency loan to Trans Retail Indonesia in 2020 (Linked to Project IDs #98656, #98657, #66265 and #98654)

In January 2020, Trans Retail Indonesia signed a $740 million USD equivalent dual-currency syndicated loan. Trans Retail is the retail arm of CT Corp, whose businesses also include media, finance and natural resources. The loan was divided into a €593 million EUR five year tranche and a $90 million USD five year tranche, although the $90 million USD tranche was not syndicated with only the 10 mandated lead arrangers and bookrunners (including SPDB) contributing to it. The loan was launched into syndication in February 2020. Mandated lead arrangers and bookrunners included Bank BTPN, BNP Paribas, CTBC Bank, DBS, Deutsche Bank Singapore Branch, First Abu Dhabi Bank Singapore branch, Maybank, Rabobank Singapore branch, Standard Chartered, Sumitomo Mitsui Banking Corp Singapore branch and Taishin International Bank Singapore branch. Mandated lead arrangers included Mega International Commercial Bank’s offshore banking unit (OBU) and Shanghai Pudong Development Bank Singapore branch. Lead arrangers included Bank of East Asia Singapore branch and China Minsheng Banking Corp Hong Kong branch. Arrangers included Bank Sinopac, Cathay United Bank Labuan branch, Chang Hwa Bank OBU, Hua Nan Commercial Bank OBU and Singapore branch, KEB Hana Bank Singapore branch, Land Bank of Taiwan Singapore branch, Taichung Commercial Bank Co Labuan branch, Taiwan Business Bank OBU, Taiwan Cooperative Bank OBU and Yuanta Commercial Bank. Lead managers included Bank of Kaohsiung OBU, Bank of Panhsin, China Citic Bank International Singapore branch and First Commercial Bank OBU. Nine previous lenders to Trans Retail, including ICBC and BOC, did not participate in this loan. The proceeds of this loan were used to refinance a $575 million USD syndicated loan from 2017. This original loan is captured in Project ID#66265 and Project ID#98654. Details on the EUR-denominated tranche are captured in Project ID#98656 and ID#98657. Loan proceeds were also used to support Trans Retail’s company expansion.

Additional details

1. It is known that 10 lenders (the mandated lead arrangers) contributed to the $90 million tranche. Therefore, to estimate SPDB's contribution, AidData has assumed that each of those lenders contributed equally ($10,000,000 USD) to the tranche.

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0

Number of total sources

3